Evan Goldberg, founder and executive vice president of Oracle NetSuite, dismissed the threat posed by smaller specialists operating in overlapping markets.
During a press conference at SuiteWorld 2022, Goldberg was asked if he was concerned about NetSuite's potential to be overtaken by more agile players who are more focused on a single solution.
"I'm not worried because of the vast capabilities we have, the depth of the suite and how we can scale," he replied. "We've made big investments in 23 years, so I'm not worried about being overwhelmed."
"However, we need to make sure customers don't lose anything when they come to us and continue to get all the benefits they had with their small business plan."
NetSuite-ERP
The NetSuite ERP platform offers a wide range of functionality, spanning accounting, CRM, human resources, e-commerce, and more. The idea is that users can run critical business processes from a single platform, instead of having to wrestle with dozens of different applications.
However, as noted at the press conference, it could be argued that vendors that specialize in a single category (eg QuickBooks) are better equipped to offer cutting-edge functionality in their niche.
While Goldberg was keen to push the concept, he said he was nonetheless confident in NetSuite's approach, which takes advantage of the close relationships between portfolio components.
Goldberg also suggested that NetSuite caters to a slightly different customer base than point solution providers, consisting primarily of midsize and high-growth businesses.
"Our customer base is geared towards growing individuals, companies that have outgrown their existing accounting solutions. We try to set these companies up for success as they grow," he explained.
“Customers get the most out of NetSuite when they use the full package. That has been the idea from the beginning. What suffocates companies is that they are mired in many different systems. As customers adopt the suite, they experience exponential value. »